Saudi Aramco Awarded Billions Worth Contracts for Natural Gas Projects

SEATTLE (Oil Monster): Saudi Arabian Oil Company (Aramco) announced that it has awarded construction contracts worth around $25 billion towards maintenance and expansion of its natural gas projects. The award of contracts is in line with the company’s strategic gas expansion plans by which it targets to achieve 60% growth in sales gas production by 2030, when compared with 2021 levels.

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Almost 50% of the combined contract value has been awarded to the second phase development of the kingdom’s Jafurah field. It must be noted that the initial phase of the Jafurah development program, which began in November 2021, is progressing on schedule, with initial start-up expected in Q3 next year.

A total of $12.4 billion has been allocated for as many as 16 contracts for the project. In addition to construction of new gas compression facilities, pipelines and export facilities, it also covers the planned expansion of the Jafurah Gas Plant.

Also, Aramco awarded 15 turnkey contracts, whose combined value exceeds $8.8 billion, towards the third-phase expansion of Aramco’s Master Gas System. The expansion project, carried out in collaboration with the Ministry of Energy, is expected to raise its total capacity by an additional 3.15 billion standard cubic feet per day by 2028.